Frequently Asked Questions
Common questions about plans, groups, instalments, auctions, documents and member support.
What is a chit fund?
A chit is a group-based financial arrangement in which subscribers contribute according to an agreed schedule and the chit is conducted according to its agreement and applicable rules.
What chit values are available?
LKS can publish the currently active plan values and durations on the Chit Plans section. The prototype includes ₹50,000, ₹1 lakh, ₹2 lakh, ₹3 lakh and ₹5 lakh examples.
How do I check available vacancies?
The website opens with an Available Vacancies panel showing group-wise vacancies. The latest figures should be updated from LKS records before launch.
How many members are in a group?
The prototype uses 20 members per group. The actual group size should follow the approved LKS chit agreement.
Can I choose a specific group?
Group availability can be checked first; joining is subject to current availability and the LKS enrolment process.
What are the available durations?
The supplied LKS plan materials include 10, 20, 22, 26 and 31 month examples. Current approved plans should be confirmed before publication.
How are monthly instalments determined?
Instalments depend on the selected chit value, duration and the terms shown in the applicable plan and chit agreement.
How does the auction work?
The auction is conducted according to the applicable chit agreement and rules. LKS should provide the exact current auction procedure to enrolled members.
When is the prize amount paid?
Prize or payout timing depends on the applicable chit process, auction result and completion of required formalities.
What documents are required?
The supplied LKS materials include subscriber, nominee/guarantor, agreement, receipt and supporting-document records. The final checklist should be confirmed by LKS.
Will I receive a receipt?
Payment acknowledgement and receipt records are part of the documented LKS process. The exact receipt format and delivery method should be confirmed by LKS.
What happens if an instalment is delayed?
Any late payment, default handling, charges or related consequences are governed by the applicable chit agreement and rules. Members should refer to their signed documents.
Can I enquire about a plan before joining?
Yes. Use the enquiry form or contact LKS to confirm current plan details, group vacancies and the joining process.
How can I contact LKS?
LKS contact numbers shown on this website are 99442 57763 and 70101 22701. The registered office is at No. 320, Solampalam, Suramangalam, Salem – 636005.
Does the website accept online payments?
This static website is an information and enquiry site. Final payment channels and instructions should only be published after LKS confirms them.
Is the website bilingual?
Yes. The main website and FAQ support English and Tamil presentation.
Where can I read the terms and privacy policy?
Use the Legal links in the footer to open the dedicated Terms & Conditions and Privacy Policy pages.
Are the plan figures on the website final?
Only the latest figures approved by LKS should be treated as final. Prototype/sample availability and values should be replaced before launch.